President asks for specific measures for trade target with Malaysia

Hanoi (VNA) – Vietnam and Malaysia should work out specific, practical measures to
achieve their trade target of 15 billion USD by 2020, President Tran Dai Quang has
said.

That view was agreed by visiting Malaysian Minister of International Trade and
Industry Datuk Seri Mustapa Mohamed during his meeting with the President in
Hanoi on December 8.

The President hailed the roundtable talks of 100 Vietnamese and Malaysian businesses
held earlier on the day, stating that Vietnam pays heed to fostering the
relations with the regional country, especially in economy, trade and
investment.

He affirmed that Malaysia-invested projects have contributed significantly to
Vietnam’s socio-economic development.

Malaysia ranked second among ASEAN member countries investing in Vietnam with
12 billion USD mostly in oil and gas, real estate, trade and service. Trade between
Malaysia and Vietnam hit 8 billion USD in 2015. Last August, Malaysia’s CIMB bank
was licensed to establish a Vietnam unit.

President Tran Dai
Quang and Minister Mustapa Mohamed discussed and agreed on measures to step up
the two countries’ strategic partnership.

The President suggested re-organizing the meeting of the Vietnam-Malaysia Joint
Committee as soon as possible and outlining a plan to implement the
Vietnam-Malaysia Action Plan in 2017-2019.

He stressed that the
strategic partnership allowed the two countries to make progress in their
political, economic, trade, investment, defence, security, oil and gas,
education, tourism, and people-to-people ties.

He expressed his
hope for Malaysia’s support for Vietnam’s successful hosting of APEC 2017 and
the two countries’ increased consultation and backing at multilateral forums
and regional and global cooperative mechanisms.

Minister Mustapa
Mohamed stated that Malaysia wants to develop cooperation with Vietnam to the
next level, especially trade, and expects to draw more Vietnamese investors and
businesses.

He affirmed that Malaysia highly values Vietnam’s role and position in regional
and global cooperative mechanisms and wants to work together with Vietnam in
ASEAN and other forums.

Malaysia will support Vietnam’s organization of the APEC Year 2017, he said.-VNA